Statements

The shift of the public to the online platform for financial transactions grew in popularity because of modern technology and was further accelerated by the COVID-19 pandemic.

Unfortunately, this shift gave rise to heightened activity by cyber criminals. As reported by Cybersecurity Ventures, the impact of cybercrime is expected to reach US$6 trillion in 2021 and rise to US$10.5 trillion annually by 2025.

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Supporting the passage of the Digital Payments bill